Post by Sapphire Capital on Aug 2, 2008 0:02:44 GMT 4
An Efficiency Criterion for the Conception and Evaluation of Public Policies
Erika López
Universidad de la Sorbona
Revista de Economía Institucional, Vol. 10, No. 18, First Semester, 2008
Abstract:
This paper seeks to emphasize the convenience of transactional efficiency, proposed by new institutional economics, in relation to Pareto equilibrium, proposed by neoclassic economics. It argues that transactional efficiency is more appropriate than the neoclassical criteria of efficiency when it is about conception and evaluation of economic policies. The synthesis of theoretical foundation of public intervention and transactional efficiency, and the analysis of three empirical studies, show the convenience of transactional efficiency.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1174642_code365933.pdf?abstractid=1174642&mirid=3
Erika López
Universidad de la Sorbona
Revista de Economía Institucional, Vol. 10, No. 18, First Semester, 2008
Abstract:
This paper seeks to emphasize the convenience of transactional efficiency, proposed by new institutional economics, in relation to Pareto equilibrium, proposed by neoclassic economics. It argues that transactional efficiency is more appropriate than the neoclassical criteria of efficiency when it is about conception and evaluation of economic policies. The synthesis of theoretical foundation of public intervention and transactional efficiency, and the analysis of three empirical studies, show the convenience of transactional efficiency.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1174642_code365933.pdf?abstractid=1174642&mirid=3